KIEV, Dec. 25 Ц Ukrinbank has been declared insolvent by the National Bank of Ukraine.

The decision is outlined in NBU resolution No. 934 of December 24.

The NBU explained that operation of Ukrinbank was not in line with the requirements of banking laws and the central bank's acts, its indicators and financial state has worsened and the bank did not fulfill the plans to improve its financial state.